“Lower end wage makers will suffer...”
With the combination of the rebate plus the pre-tax drop in prices, those living at or below the poverty level will see an actual INCREASE in their purchasing power. That seems inconsistent with your claim that lower end wage earners will suffer.
“It will throw hundreds (if not thousands)out of work in the first year.”
The economic studies have indicated that GDP growth would be in the double digits in year 1. That would create many new jobs. Just the removal of the bias that the current system provides to foreign producers in the global economy is very significant in terms of job creation, as is the making of the US as a magnet for investment capital.
Mostly service workers will be thrown out of work. The one size fits all will not work in particular in the food industry. The prebate is regressive to low end earners and they will be the hardest hit. Also, let's pretend like there is double digit growth - can you inflation? ( not that I believe it).
Do you honestly believe that a family with four teenage boys and a family with four teenage girls who live across the street from each other will be "Fair"ly treated with prebates? Oh and no way food goes down you FT'ers magic 23%. Not going to happen.